Australian Securities and Investments Commission Act 2001
12DVException for product covered by product intervention order
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12DV Exception for product covered by product intervention order
(1) Section 12DQ does not apply in relation to the sale of an add‑on insurance product by a person if a product intervention order in force under Part 7.9A of the Corporations Act 2001: (a) covers that sale; and (b) provides for a period during which the product must not be sold.
Note: A defendant bears an evidential burden in relation to the matter in subsection (1): see subsection 13.3(3) of the Criminal Code.
(2) Sections 12DR and 12DS do not apply in relation to: (a) an offer to issue or sell; or (b) a request or invitation to ask or apply for; an add‑on insurance product that would, if offered to a consumer, be covered by a product intervention order in force under Part 7.9A of the Corporations Act 2001 that provides for a period during which the product must not be sold to the consumer.
Note: A defendant bears an evidential burden in relation to the matter in subsection (2): see subsection 13.3(3) of the Criminal Code.